Hi-Tech Pipes Limited HITECH NSEINFRA

Basic Materials · Steel · India

https://www.hitechpipes.in

Hi-Tech Pipes Limited manufactures and sells steel in India. The company provides mild steel hollow section ERW steel pipes, mild steel round pipes, GI pipes, pre-galvanized steel pipes, crash barriers, cold rolled coils and strips, and coated coils and roofing sheets. It also offers hot rolled, pickled and oiled, cold rolled close annealed, cold rolled full hard, and BP sheets coil and strip products, as well as casing pipes for borewells. In addition, the company provides HR coil pipes, metal beam crash barriers, color-coated roofing sheets, and GC roofing sheets. It also exports its products. The company was formerly known as Ram Lal Harbans Lal Limited and changed its name to Hi-Tech Pipes Limited in October 1986. Hi-Tech Pipes Limited was incorporated in 1985 and is headquartered in New Delhi, India.

Market & Price

Market Cap

₹1,757.50 Cr

Current Price

₹86.70

High / Low (52W)

₹122.59 / ₹70.93

Beta

0.50

Valuation

Stock P/E

23.24

Industry PE

23.81

Forward P/E

13.14

PEG Ratio

Book Value

₹64.75

Price to Book

1.34

P/S

0.42

EV/EBITDA

10.92

Dividend Yield

0.03%

Profitability & Returns

ROCE

10.44%

ROE

5.88%

ROA

4.84%

Profit Margin

1.81%

Op Margin

2.61%

EPS (Latest Qtr)

₹0.84

EPS (TTM)

₹3.73

Balance Sheet & Liquidity

Debt/Equity

0.20

Quick Ratio

0.96

Current Ratio

2.17

Debt

₹267.51 Cr

Total Assets

₹1,755.66 Cr

Current Assets

₹1,043.86 Cr

Working Capital

₹606.03 Cr

Ownership

Promoter Holding

46.80%

Chg in Prom Hold

FII / Inst Holding

13.57%

Chg in FII Hold

Financial Snapshot

Enterprise Value

₹1,894.91 Cr

Total Revenue (TTM)

₹4,200.07 Cr

EBITDA

₹173.55 Cr

Free Cash Flow

₹-188.68 Cr

Operating Cash Flow

₹3.32 Cr

Shares Outstanding

₹20.27 Cr

Gross Margin

7.30%

Payout Ratio

0.67%

Growth (CAGR)

Revenue 5Y

17.68%

Profit 5Y

21.85%

Revenue (YoY)

101.70%

Earnings (YoY)

-6.10%

PROS

Compounding revenue at 17.7% over 5 years.
Profit CAGR of 21.8% over 5 years.

CONS

Trading 29.3% below its 52-week high.
In a downtrend (50-DMA below 200-DMA).

* The pros and cons are auto-generated from financial metrics.

Price Chart

NSE TradingView Screener.in

Fundamental Growth

Period: Metric:

Figures from the latest reported periods. CAGR is computed across the displayed window (quarterly CAGR is annualised assuming 4 quarters per year).

Peer comparison

Peer companies in the same sector (Basic Materials).

#	Name	CMP ₹	P/E	Mkt Cap	Div Yld %	ROCE %	ROE %	Rev CAGR 5Y %	Profit CAGR 5Y %
1	HITECH Hi-Tech Pipes Limited NSEINFRA	86.70	23.24	₹1,757.50 Cr	0.03%	10.44%	5.88%	17.68%	21.85%
2	ULTRACEMCO UltraTech Cement Limited NIFTY50NSEINFRA	11,482.00	41.32	₹3.38 L Cr	0.67%	11.90%	10.59%	12.40%	17.26%
3	JSWSTEEL JSW Steel Limited NIFTY50NSEAIINFRA	1,278.00	14.01	₹3.12 L Cr	0.56%	19.15%	27.26%	3.61%	75.28%
4	HINDZINC Hindustan Zinc Limited NSEINFRA	632.95	19.34	₹2.67 L Cr	3.32%	62.35%	76.94%	5.61%	9.58%
5	TATASTEEL Tata Steel Limited NIFTY50NSEAIINFRA	208.02	28.34	₹2.59 L Cr	1.92%	11.32%	11.16%	-1.59%	7.21%
6	HINDALCO Hindalco Industries Limited NIFTY50NSEAIINFRA	1,126.70	18.73	₹2.52 L Cr	0.44%	9.50%	10.29%	7.40%	9.87%
7	GRASIM Grasim Industries Limited NIFTY50NSEINFRA	3,122.40	42.74	₹2.12 L Cr	0.32%	4.00%	6.29%	14.63%	-10.06%
8	SOLARINDS Solar Industries India Limited NSEINFRA	18,247.00	98.04	₹1.65 L Cr	0.06%	29.51%	31.33%	13.27%	30.36%
9	PIDILITIND Pidilite Industries Limited NSEINFRA	1,482.80	61.73	₹1.51 L Cr	0.67%	28.48%	23.52%	7.50%	24.36%

Quarterly Results

Figures in INR.

Metric	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
Revenue	-	761.01 Cr	647.21 Cr	791.36 Cr	858.77 Cr	1,069.59 Cr
Cost of Revenue	-	684.32 Cr	677.13 Cr	718.78 Cr	781.59 Cr	992.74 Cr
Gross Profit	-	76.69 Cr	-29.92 Cr	72.58 Cr	77.17 Cr	76.85 Cr
Operating Expenses	-	42.72 Cr	-55.69 Cr	37.72 Cr	39.49 Cr	41.64 Cr
Operating Income	-	33.97 Cr	25.77 Cr	34.86 Cr	37.69 Cr	35.21 Cr
EBITDA	-	40.61 Cr	31.58 Cr	41.96 Cr	45.48 Cr	42.13 Cr
Interest Expense	-	8.77 Cr	3.24 Cr	7.82 Cr	11.77 Cr	12.25 Cr
Pretax Income	-	25.59 Cr	24.08 Cr	27.97 Cr	27.07 Cr	23.21 Cr
Tax Provision	-	6.44 Cr	6.45 Cr	7.05 Cr	6.81 Cr	5.82 Cr
Net Income	-	19.15 Cr	17.64 Cr	20.92 Cr	20.26 Cr	17.39 Cr
Diluted EPS	1.10	1.08	-	1.04	1.01	0.84

Profit & Loss (Annual)

Figures in INR.

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Revenue	1,829.03 Cr	2,321.63 Cr	2,627.43 Cr	2,981.10 Cr
Cost of Revenue	1,699.28 Cr	2,174.33 Cr	2,462.52 Cr	2,783.75 Cr
Gross Profit	129.75 Cr	147.30 Cr	164.91 Cr	197.35 Cr
Operating Expenses	40.19 Cr	59.84 Cr	67.64 Cr	63.14 Cr
Operating Income	89.56 Cr	87.46 Cr	97.27 Cr	134.21 Cr
EBITDA	97.73 Cr	95.00 Cr	112.57 Cr	158.56 Cr
Interest Expense	32.75 Cr	31.35 Cr	38.40 Cr	39.65 Cr
Pretax Income	55.32 Cr	49.88 Cr	58.69 Cr	97.99 Cr
Tax Provision	15.00 Cr	12.20 Cr	14.76 Cr	25.04 Cr
Net Income	40.33 Cr	37.68 Cr	43.93 Cr	72.95 Cr
Diluted EPS	3.38	2.18	2.69	3.98

Compounded Sales Growth

5 Years:	17.68%
1 Year:	101.70%

Compounded Profit Growth

5 Years:	21.85%
1 Year:	-6.10%

Stock Price Performance

1 Year:	-9.72%
6 Months:	-13.71%
3 Months:	+0.42%
1 Month:	-5.93%

Balance Sheet (Annual)

Figures in INR.

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Total Assets	769.32 Cr	915.52 Cr	1,178.70 Cr	1,755.66 Cr
Current Assets	490.37 Cr	551.34 Cr	715.56 Cr	1,043.86 Cr
Cash & Equivalents	90.33 L	1.89 Cr	2.33 Cr	35.82 Cr
Inventory	259.41 Cr	306.76 Cr	346.66 Cr	384.26 Cr
Receivables	167.41 Cr	185.52 Cr	280.18 Cr	302.69 Cr
Total Liabilities	510.70 Cr	497.42 Cr	602.33 Cr	498.31 Cr
Current Liabilities	343.47 Cr	377.90 Cr	465.82 Cr	437.84 Cr
Long Term Debt	146.87 Cr	94.03 Cr	106.45 Cr	25.47 Cr
Total Debt	393.42 Cr	273.46 Cr	402.29 Cr	191.52 Cr
Total Equity	258.62 Cr	418.11 Cr	576.37 Cr	1,257.35 Cr
Shares Outstanding	12.27 Cr	12.78 Cr	14.99 Cr	20.31 Cr

Cash Flows (Annual)

Figures in INR.

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Operating Cash Flow	-17.32 Cr	133.74 Cr	-95.19 Cr	69.83 Cr
Investing Cash Flow	-46.45 Cr	-98.18 Cr	-153.38 Cr	-390.07 Cr
Financing Cash Flow	64.03 Cr	-34.58 Cr	249.02 Cr	353.73 Cr
Capital Expenditure	-45.22 Cr	-69.34 Cr	-109.18 Cr	-189.91 Cr
Free Cash Flow	-62.54 Cr	64.40 Cr	-204.36 Cr	-120.08 Cr
Net Change in Cash	26.93 L	98.56 L	44.45 L	33.48 Cr

Ratios (Annual)

Figures in %.

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Gross Margin %	7.1%	6.3%	6.3%	6.6%
Operating Margin %	4.9%	3.8%	3.7%	4.5%
Net Margin %	2.2%	1.6%	1.7%	2.4%
ROE %	15.6%	9.0%	7.6%	5.8%
ROCE %	21.0%	16.3%	13.6%	10.2%

Shareholding Pattern

Insiders

46.80%

Institutions

13.57%

Public Float

25.50%

Analyst View

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HITECH · Basic Materials